The governing body of Injective recently approved a significant revision to its token economics, introducing the INJ 3.0 system. This change will substantially modify Injective’s economic framework. The community-driven choice aims to boost the deflationary aspect of the INJ token noticeably.
INJ 3.0 has been launched on the mainnet, making $INJ a noteworthy deflationary cryptocurrency with a rapidly shrinking supply over the next two years. Let’s welcome a fresh start for Injective.— Injective 🥷 (@injective) April 23, 2024
Key Modifications to INJ’s Economic Framework
The approved changes diminish INJ’s minting capabilities while introducing new parameters to escalate its deflationary characteristics. According to the governance proposal on April 19, the alterations are projected to amplify INJ’s deflation by a staggering 400% over the next two years.
Before, INJ followed guidelines with more permissive inflation thresholds. However, moving forward, these boundaries will be narrowed down. Specifically, the minimum inflation rate will be 4%, while the maximum will be capped at 7% for the upcoming two-year period.
In 2026, we’ll reassess the effects of this modification and make any required adjustments. Boosting the inflation rate from 0.1 to 0.5 will enhance the token’s sensitivity to staking actions.
The proposed adjustments were met with strong approval from the Injective community, as indicated by a nearly unanimous 99.99% vote in favor. CEO of Injective Labs, Eric Chen, expressed great excitement over the community’s resounding support, emphasizing the broad agreement for this significant change.
Based on current market information, INJ is valued at $28.54, marking a 1.5% rise over the past day. Looking ahead, significant adjustments to its economic structure could enhance INJ’s standing in the crowded cryptocurrency arena.
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2024-04-23 19:16